Dear Traders and Hopeaholics alike,
IS ETHEREUM HEADING TO $1,045 ?
Provided it is an impulse wave - drinks are on me :) if it is not... drinks are on me... literally ;)
with Ethereum 2.0 rumoured to be just around the corner... providing they stake the just over 2million ETH needed. Please correct me if I am wrong but... that's 32ETH each x 62,500 validators...
I see a long opportunity in this 12 HRLY chart. Look for a bullish candle or combination of a bullish trio candle setup (smaller time frames) before taking the trade.
Also a shorting opportunity with VET.USDT. Similarly look for a few touches on resistance before taking the...
This just another update to the previous chart, link supplied below explaining the price action of ETH using the Inverted BARR method.
A bit of a scenario I missed out on the previous post for the short term.
I stated where the resistance trend line will be but I did not factor 2 scenarios, 1 with logarithmic scale and the other not.
> If it breaks above...
Higher lows, buyers in control, clear uptrend, sentiment bullish, possibly back above 50 MA
If you didn't catch it yet an entry point could be $400 with the nearest target $437 (which will probably be crushed fast).
Wait for a $400 retest otherwise wait for a confirmed breakout and $417-420 flip to support.
Bitcoin should see downside pressure from here on.
Potential to drop to 10700 and from there we will have to see if this support holds.
Expecting moves in Nasdaq, SP500 and DJI to drag BTC down with it for a certain amount of time. With it I expect ETH to drop for a few weeks as well.
RSI showing divergence. TomDemark showing top for ETH. Trendline hitting...
Chart self explanatory. Hekin hows bigger green bars off the last selloff. That selloff bought as seen by the huge volume and price not dropping. Been like this every since the march drop. Going here as usual (They wait till saturday midnight US time to rise it)
The chart is simple and infront of you
Since last march drop we see ascending channel formation
As long as we are in this ascending parallel channel eth holders are safe
You can see every time we down to the bottom of channel... Strong buyers 💪💪 come to defend this channel structure
There are some resistance located between 370-410
Once break it...
Breaking out on PayPal adoption news, this appears to be a legit breakdown to a new bullish trend but in the shorter term may run out of steam. With all systems go, and bullish MACD to support, only giveaway is the volume which is suspect of a consolidation within the triangle drawn.
Perhaps a chance when it comes?
Instead of looking at the small picture, I thought I now look at the macro and see what obstacles\resistance levels we are approaching soon and hence potentially were to sell and buy.
Similarly with BTC will be next for what I have seen is BTC and ETH are in sync when it comes to key levels, each with its own story.
Anyway, the chart below gives the whole...
Bitcoin is leading (made a new ATH), Ethereum is lagging but it has broken substantial resistance around $400 and is ready to test $450 again.
(Macro) ETH price touched weekly support and heading to weekly resistance now, looks easy.
Long ~$390-$400 dip would be a no-brain trade for me, but not sure if I will get such an option. Currently in a really small long...
I'm keeping this short and to the point, as its about planning, having a strategy.
a) Patience; Weekly chart, shows downward pressure still there, so we might drop some more moving forward.
b) The chart is the strategy to find the level on when to go from BTC to ETH;
c) This post does not factor in your strategy on Coins, eg. LINK, ADA, ....defi,...
ETH is recovering and is about to break out.
It doesn't have the same bullish upward pressure as BTC but this could also give a signal for the ALTs to come into play, while BTC struggles with the 12850 resistance level as its the 0.618 macro fib level.
Refer to my previous post, link provided.